"During the discussion of the situation around the Joint Comprehensive Plan of Action on the Iranian nuclear program, the importance of preserving this agreement, which is a key factor in maintaining international stability and security, was noted. Russia, France and Germany reaffirmed their commitment to further mutually beneficial cooperation with Iran in trade and economy," the statement said.        

Since the US withdrew from the Joint Comprehensive Plan of Action (JCPOA) last year, Washington has reinstated sanctions against Iran, targeting mainly its oil sector.   

Other signatories to the Iran nuclear deal, China, France, Germany, Iran, Russia, the United Kingdom and the European Union, have slammed Washington's unilateral withdrawal from the JCPOA stressing that the reinstatement of sanctions threatens not only Iran itself but also countries and companies that stay continue doing business with Tehran. 

Having that in mind, these countries agreed that a special mechanism, dubbed the Instrument in Support of Trade Exchanges (INSTEX), would be created to facilitate trade between companies and Iran amid the sanctions by Washington, Sputnik reported.  

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